KLP Kapitalforvaltning AS Invests $21.09 Million in Owens Corning (NYSE:OC)

KLP Kapitalforvaltning AS purchased a new stake in shares of Owens Corning (NYSE:OC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 123,843 shares of the construction company's stock, valued at approximately $21,093,000. KLP Kapitalforvaltning AS owned about 0.14% of Owens Corning as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Natixis Advisors LLC raised its position in Owens Corning by 1.9% during the 3rd quarter. Natixis Advisors LLC now owns 17,903 shares of the construction company's stock worth $3,160,000 after buying an additional 339 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Owens Corning during the third quarter worth $607,000. Commerce Bank lifted its position in Owens Corning by 13.8% during the third quarter. Commerce Bank now owns 3,300 shares of the construction company's stock valued at $583,000 after purchasing an additional 399 shares during the period. Foundry Partners LLC purchased a new stake in Owens Corning in the third quarter valued at $611,000. Finally, Massachusetts Financial Services Co. MA grew its position in Owens Corning by 18.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,749 shares of the construction company's stock worth $838,000 after purchasing an additional 743 shares during the period. 88.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank of Canada restated an "outperform" rating and issued a $212.00 target price on shares of Owens Corning in a research note on Monday, March 17th. Loop Capital cut their price target on Owens Corning from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. lowered their price target on Owens Corning from $200.00 to $176.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Benchmark reaffirmed a "hold" rating on shares of Owens Corning in a research note on Monday, March 3rd. Finally, UBS Group dropped their price objective on shares of Owens Corning from $245.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Owens Corning currently has an average rating of "Moderate Buy" and an average target price of $204.18.

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Insider Activity

In other Owens Corning news, insider Monaco Nicolas Del sold 1,750 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $183.97, for a total value of $321,947.50. Following the sale, the insider now owns 11,635 shares of the company's stock, valued at $2,140,490.95. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.89% of the company's stock.

Owens Corning Trading Down 1.0 %

Shares of Owens Corning stock traded down $1.57 on Tuesday, reaching $149.61. The company had a trading volume of 884,508 shares, compared to its average volume of 743,323. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market cap of $12.80 billion, a PE ratio of 12.73, a PEG ratio of 1.88 and a beta of 1.52. The firm's 50 day moving average price is $167.19 and its two-hundred day moving average price is $176.71. Owens Corning has a 52-week low of $137.50 and a 52-week high of $214.53.

Owens Corning (NYSE:OC - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The construction company reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $2.87 by $0.35. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The company had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. The firm's revenue was up 23.3% compared to the same quarter last year. Sell-side analysts predict that Owens Corning will post 15.49 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.76 dividend on an annualized basis and a yield of 1.84%. Owens Corning's dividend payout ratio (DPR) is presently 37.70%.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.